Dollar Cost Averaging

[Anonymous No.27556696]

I saw someone in here replying to a post saying we are NGMI unless we dollar cost average bitcoin over a long term.

I've done a bit of research and the strategy seems solid. For $50USD a week over last 4 years the portfolio would be worth over $200k USD (with approx. $10k USD depoisitied)

Can someone give me the rundown, namely:
- Do I need to wait for a dump? Will starting as we approach and ATH (with possibility of crash) significantly reduce earnings
- Has anyone here successfully used this strategy?

t. Smoothbrain who was burned by XRP in 2017 and GME this week (not my life savings but enough to annoy me)

[Anonymous No.27557636]

Plz respond bros I wanna make it

[Anonymous No.27557772]

>>27556696

Not a single instrument will return as much money as dogecoin

[Anonymous No.27557785]

>>27556696
have a bump

[Anonymous No.27557913]

>>27556696
>- Do I need to wait for a dump?
the whole purpose of DCA is that you can't time the market enough, so "waiting for a dump" may as well mean waiting forever for it to dump while it keeps mooning and you are priced out

[Anonymous No.27557960]

>>27557772
I've got small bags of all the shitcoins already, I'm looking for a long term investment

>>27557785
Thanks man.

[Anonymous No.27557996]

>waiting for a dump

This aint happening with BTC anymore. Just starting accumulating what you can now at any cost.

BTC is the digital store of value to hedge against fiat inflation. Usually people do this with property investment, but its getting harder and harder to do it with property due to how much you need to put up front, at least with BTC, you dont have to put anything upfront to buy in.

[Anonymous No.27558118]

You should DCA with an amount you feel comfortable throwing in weekly or biweekly but keep several times that set aside for big buys on the dips. You can track your average cost with a spreadsheet or one of several apps available. When the price dips 20% or more from your average cost, make a big buy to lower your average. Think of the dips like a discount. You should be regularly investing, but always have some capital set aside to buy at a discount. If you suspect the market will turn down, lower your DCA amount and then buy when it bottoms it out. If yoI plan on holding for several years small price movements don’t matter as much

[Anonymous No.27558207]

>>27557913

That makes sense, I forgot to add in OP that I have a lump sum to start too.

Now I'm thinking about it, would i be better to split that lump sum and DCA more each week instead, does that best mitigate price fluc?

ie. $5k lump sum then $50 per week = $7500 first year
VS
$150 per week = $7500 first year

[Anonymous No.27558345]

>>27558118
Okay, that's great advice.

Any Apps you use personally?

Also i use an exchange at the moment, guess this will not be viable as in 2 years i would have 104 seperate positions to close, do I set up on Binance? (ausfag)

[Anonymous No.27558403]

>>27558207
Take what current funds you want to invest now, say 10k and put half of it in now, hold half to buy on dips. Then put a % of each paycheck into it every 2 weeks or whatever. That way you have a bag to start, then you are DCAing with your cash flow, and have some capital to buy on discount.

[Anonymous No.27558533]

>>27558345
You can use blockfolio or delta those are popular. Also if you’re just buying BTC, it’ll add the coins to your portfolio and add everything together, you’ll just have a pool of coins that have a total cost and a value associated with it based on BTC value at the time. You won’t have 104 positions, you’ll have 1 position: BTC

[Anonymous No.27558696]

>crypto virgin
>install newton
>transfer 50 bucks into account
>buy $50 worth of btc
that seemed too easy, how am i being fucked?

[Anonymous No.27558699]

i buy every day
i’m at 20/day rn i wanna make it 100
i try to buy dips but ultimately i must make my daily purchase
i hold cash to buy larger amounts on crashes and sometimes i FOMO in
i sometimes will trade out percentages hoping to time the market
hard to do that
will we see 25k or 45k next idk but i bought today

[Anonymous No.27558804]

Blah blah blah
Only one thing matters: the difference between what you put in and what you cash out

[Anonymous No.27558822]

you cant time the market, this is the exact reason for DCA, just buy every week at the same time and just let time do its thing

[Anonymous No.27558959]

>>27556696
>Do I need to wait for a dump?
No, the point of DCA is no thinking
>Has anyone here successfully used this strategy?
Yes, youtube 'the four year strategy'

[Anonymous No.27559032]

>>27558403
Also I forgot to add, apparently the statistically best time to buy in a bull run is on Mondays. Check this article out: https://archive.is/I3x5B

[Anonymous No.27559063]

>>27558959
*journey

[Anonymous No.27559090]

>>27557772
Hhhhhnmnmmmmnnnnnnnnnnnnnnnnnnnnnnnngh im coming

[Anonymous No.27559157]

>>27559032
>only buy after 20% pump
jfc

[Anonymous No.27559207]

>>27558822
this

[Anonymous No.27559296]

>>27556696
Find a good entry point (wait for a red day) and then DCA from there.

BTC is set to retrace 60 - 80% its ATH AFTER this bullrun is over (around sept.). If we assume a conservative price of $75K at BTC's ATH and a retrace of 70%, then the bottom would be around $18,750. Of course this is an estimation and no one really knows its ATH and its bottom. But I believe $15,000 - $25,000 is a good entry point. Even right now its decent. As long as you buy the absolute top you should be fine.

As far as $50/week, I mean thats fine but youre ganna wanna up those numbers. I DCA $1000 biweekly BTC/ETH at 70/30. Then if you want $500 per month on your shitcoin of choice (LINK, XMR, UNI; all VERY good projects by the way).

[Anonymous No.27559321]

>>27556696
People who do this tend to buy on Mondays. Historically, it’s when Bitcoin dips the most.

[Anonymous No.27559426]

>>27557996
that's why I'm building/buying property, get outta my way poorfags

[Anonymous No.27559478]

>>27559296
*As long as you DONT buy the absolute top

[Anonymous No.27559610]

>>27558207
DCA is retarded. Let’s say you have $30k now to invest, in USD. You could dollar cost average into a BTC position over a few months.

However, instead let’s say you have $30k of BTC. Economically, if you wanted to replicate the DCA payoff, you would sell your $30k of BTC and then DCA back in, obviously retarded.

If you want a BTC position and you have cash now, the only logical step is to fully buy BTC on day 1

[Anonymous No.27560305]

>>27559610
>buying at the top

[Anonymous No.27560315]

>>27558118
Any links to a good DCA spreadsheet for crypto? I suck at excel and maths in general

[Anonymous No.27560385]

>>27560305
>timing the market

[Anonymous No.27561451]

>>27556696